Young Dorothy finds herself in a magical world where she makes friends with a lion, a scarecrow and a tin man as they make their way along the yellow brick road to talk with the Wizard and ask for the things they miss most in their lives. The Wicked Witch of the West is the only thing that could stop them.

Using a conventional Western story with an all dwarf cast, the filmmakers were able to showcase gags such as cowboys entering the local saloon by walking under the swinging doors, and pint-sized cowboys galloping around on Shetland ponies while roping calves.

At a three-ring circus, 'Spangles' Delancy, a beautiful bareback horse rider, falls in love with a wanted man, Dick Radley, who uses the circus as a hideout. The show's owner Big Bill Bowman also falls in love with Spangles-- But only one man can have her.